Oireachtas Joint and Select Committees

Thursday, 12 July 2018

Public Accounts Committee

2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 23: Accounts of the National Treasury Management Agency
National Treasury Management Agency: Financial Statements 2017

9:00 am

Mr. Conor O'Kelly:

Again, it is a policy decision. An economy like Ireland's can probably only take a certain amount of investment at any given time. It is quite a small economy. The commitment of €3.8 billion has been matched by private capital, making a total of €10.5 billion invested so far through the ISIF mechanism over the past three years. That is a lot of money and projects for this economy. Whether the pipeline or the capacity would be there for the entire €8.9 billion is very questionable. We identified and believed that there were excess reserves which could be used for other purposes. I suppose it is a matter for the Government as to what those other purposes might be.

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